Wind Energy

Platina Acquires 52 MW Wind Farms in France

This represents the first investment from the European Renewable Energy Fund I LP (“EREF”) since its final close on 29th March, and the tenth investment in all from the Fund. EREF now has a total of 139.5 MW under construction or in operation.

The wind power projects were acquired from Infigen Energy Limited of Australia for a total consideration of €71.3 million. The acquisition continues EREF’s investment strategy of assembling a portfolio of operational renewable electricity generation projects across Europe.

Debt financing for the wind energy investment was provided by NordLB. Advisers to EREF were Norton Rose for legal and tax advice, due diligence and financing; Lovells for loan documentation; Augusta & Co for corporate finance; and Mott McDonald for technical due diligence.

Since its inception, Platina has been involved in a combined construction and operational portfolio of over 300 MW. Its European development portfolio comprises over 1,000MW of wind power, solar energy, hydro and biomass projects.

Alexandre Labouret, partner of Platina Partners, said: “We are delighted with this opportunity to acquire part of one of France’s largest operational wind farms. Having exited our previous French wind farm investments at the end of 2007, we have been seeking the right opportunity to reinvest in what we see as one of the key European renewable energy markets, offering an excellent support regime.”

Andrew Robinson, Managing Director, Structured Finance Europe at Nord/LB, said: “We are delighted that we have once again been able to work with our core client, Platina Partners to support them in such a strategically important transaction."

www.platinapartners.com/